Merrick financial institution property yields $2.9M

A freestanding financial institution constructing in Merrick has bought for $2.9 million. 

101 Oriental Blvd. LLC, an entity registered to a Franklin Sq.-based actual property investor, bought the 4,700-square-foot constructing on .25 acres at 2111 Merrick Ave. The acquisition was a part of a 1031 alternate. 

The property is net-leased to Roslyn Financial savings Financial institution. 

The sale value equates to a 6 p.c cap fee. 

Jesse Anselmo of Tri Novo Realty represented the client, whereas Peter Wolf of Choose Actual Fairness Advisors represented the vendor, Sam Drayman Household Co. LLC, within the gross sales transaction.